Chris Estrada

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How to Deal with a Low-Ball Offer

If you take care to price your home correctly — that is, at a price that is in line with what similar properties in the area have sold for recently — then you have a good chance of selling it at or near your asking price.

 

That doesn’t mean you won’t get a low-ball offer. You might. So what do you do when that happens?

 

First, understand that the buyer may not necessarily be trying to steal away your home at a bargain-basement price. He might simply be mistaken about its true market value. Of course, he might also be coming in at a low price in the hopes he’ll get lucky.

 

You will never actually know the buyer’s motives. So it would be a mistake to get angry or dismiss the offer out-of-hand. That low-ball offer might end up being the beginning of a negotiation that results in you selling your home at a good price.

 

Your first step is to work with me to determine:

 

• How serious the buyer is.

• How qualified the buyer is. (For example, does he have a preapproved mortgage?)

• How amenable the buyer is to a counter-offer that reflects the true market value of your home.

• What that counter-offer should be.

 

This isn’t an easy process. It takes knowledge and experience to get it right. That’s why working with a good REALTOR® is essential.

 

Looking for a REALTOR® who is an expert at this stuff? Call me right away. :) 

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How a Home Inspection Helps You
Whether you're considering buying a particular home, selling your current
property – or both – a home inspection can help.
A home inspection is an inspection by a qualified professional who takes a
close look at every aspect of a home – structure, wiring, plumbing, and
more – and identifies issues you may not have noticed yourself.
For example, a home inspection can reveal that a furnace will need to be
replaced soon, or that there is a water leak into the basement that needs to
be fixed.
You'll definitely want to get a professional home inspection before you buy a
particular property. That's why most offers to purchase a home are
conditional upon passing a home inspection. (The last thing you want is to
buy your dream home only to discover that the wiring needs to be updated!)
You may also want to get a home inspection on your own home before you
list it for sale. A certificate from a qualified professional that states that your
home passed inspection will make your property more attractive to buyers.
Many reputable home inspectors are members of a professional industry
association.